Trump Under Scrutiny For Allegedly Diminishing High-End Manhattan Property Value - Reports

Trump Under Scrutiny for Allegedly Diminishing High-End Manhattan Property Value - Reports

Former US President Donald Trump's company is under scrutiny for allegedly downgrading the value of its several properties in the years preceding 2016, including a high-end 70-story building in Manhattan, the Washington Post reported on Monday citing city records and officials familiar with the matter

WASHINGTON (Pakistan Point News / Sputnik - 22nd November, 2021) Former US President Donald Trump's company is under scrutiny for allegedly downgrading the value of its several properties in the years preceding 2016, including a high-end 70-story building in Manhattan, the Washington Post reported on Monday citing city records and officials familiar with the matter.

The Manhattan building is located at 40 Wall Street and the Trump Organization listed its worth at $527 million in 2012. Later in the year, the company informed property tax officials that the entire building was worth just $16.7 million, one-thirtieth, the report said.

New York Attorney General Letitia James is considering filing a lawsuit while prosecutors in the Manhattan District Attorney's Office have already convened a grand jury, which could vote on imposing criminal charges, the report added.

Among other properties under scrutiny are Trump's golf club in California, which he claimed to be worth $900,000 and at the same time $25 million in different situations, as well as his estate in suburban New York that was also valued between $56 million and $291 million, according to the report.

In July, the Trump Organization and its Chief Financial Officer Allen Weisselberg were charged in a New York court with a tax crimes ranging over a 15-year timespan, including a scheme to defraud, conspiracy, grand larceny and falsifying of business records.

Both, the Trump Organization and Weisselberg pleaded not guilty to the charges. Former president Donald Trump has characterized the charges as being politically motivated.